On 1 June 2009, the London Stock Exchange published a notice which introduced an updated set of AIM Rules for Companies (AIM Rules). The changes introduced to the AIM Rules by the notice largely implement those proposed by the LSE in its earlier consultation concerning investment companies (please see our December 2008 E-Bulletin article on this topic: LSE consults on new AIM Rules for investing companies and other changes).
The notice also introduces a new AIM Note for Investing Companies and an amended AIM Note for Mining, Oil & Gas Companies in the form proposed by the LSE in its consultation concerning investment companies.
The LSE has also taken this opportunity to update the AIM Rules to reflect changes introduced by AIM notices 31 and 32 which:
- reduced the minimum subscription period for open offers from 15 business days to 10 business days (please see our February 2009 E-Bulletin article on this topic: Rights issue subscription periods – Changes to Listing Rules and AIM Rules); and
- extended the significant shareholder notifications regime to include disclosure of substantial economic interests in shares held through contracts for difference (CFDs) and similar financial instruments (please see our May 2009 E-Bulletin article on this topic: AIM Rules – Changes to the disclosure of significant shareholdings).
The new AIM Rules took effect immediately and are already in force.
View the new AIM Rules for Companies (46 page pdf).
View the new AIM Note for Investing Companies (8 page pdf).
View the amended AIM Note for Mining, Oil & Gas Companies (16 page pdf).